This form is used for the purposes of more effectively developing, producing, and operating the Unit Area in order to prevent surface and underground waste, and obtain the greatest ultimate recovery of production of oil and gas, promote conservation, and to afford each of the Parties the right to recover their fair and equitable share of the production to be obtained from the Unit Area, or to receive the attributable proceeds of such production.
Ohio Gas Storage and Secondary Recovery Unit Agreement is a legal contract entered into by parties involved in the oil and gas industry in Ohio. It primarily serves as a framework for gas storage and secondary recovery operations, providing guidelines and obligations for the parties involved. The primary objective of this agreement is to establish the terms and conditions under which the gas storage and secondary recovery activities will be conducted. It outlines the roles and responsibilities of the gas storage company, the secondary recovery unit, and other stakeholders. 1. Ohio Gas Storage Agreement: This type of agreement focuses on the storage of natural gas in underground storage facilities located in Ohio. It typically covers aspects such as gas injection, withdrawal rights, storage capacity, and maintenance of storage infrastructure. 2. Ohio Secondary Recovery Unit Agreement: This agreement specifically pertains to the secondary recovery operations in Ohio. Secondary recovery refers to the techniques used to extract additional oil and gas from a reservoir after primary production methods have been exhausted. The agreement may address matters such as enhanced oil recovery techniques, technical specifications for equipment, and liability allocation between parties involved in the secondary recovery unit. Keywords: Ohio, gas storage, secondary recovery, unit agreement, oil and gas industry, legal contract, parties, framework, guidelines, obligations, gas storage company, roles, responsibilities, underground storage facilities, natural gas, injection, withdrawal rights, storage capacity, maintenance, infrastructure, secondary recovery operations, extraction, reservoir, primary production methods, enhanced oil recovery techniques, technical specifications, liability allocation.
